Strs Ohio Makes New Investment in Schlumberger Limited $SLB

Key Points

• Strs Ohio has made a new investment in Schlumberger Limited, acquiring over 1.1 million shares valued at approximately $46 million.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, reflecting a yield of 3.2%.
• Despite a recent earnings report showing a slight decline in revenue, analysts maintain a consensus rating of "Moderate Buy" for Schlumberger, with a price target of $52.86.

Strs Ohio bought a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,100,713 shares of the oil and gas company's stock, valued at approximately $46,010,000. Strs Ohio owned 0.08% of Schlumberger at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vident Advisory LLC boosted its holdings in Schlumberger by 1.0% in the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock worth $1,067,000 after acquiring an additional 273 shares in the last quarter. Glen Eagle Advisors LLC boosted its holdings in Schlumberger by 3.7% in the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock worth $301,000 after acquiring an additional 282 shares in the last quarter. EntryPoint Capital LLC boosted its holdings in Schlumberger by 4.5% in the first quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company's stock worth $307,000 after acquiring an additional 316 shares in the last quarter. Heritage Wealth Management Inc. Texas boosted its holdings in Schlumberger by 2.2% in the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock worth $616,000 after acquiring an additional 318 shares in the last quarter. Finally, Horizon Investments LLC boosted its holdings in Schlumberger by 1.5% in the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company's stock worth $946,000 after acquiring an additional 330 shares in the last quarter. Institutional investors own 81.99% of the company's stock.

Schlumberger Stock Performance

Shares of SLB traded down $0.45 on Friday, reaching $35.58. 13,476,657 shares of the company's stock traded hands, compared to its average volume of 13,834,755. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The stock has a market cap of $53.14 billion, a PE ratio of 12.18, a PEG ratio of 9.87 and a beta of 1.05. The stock's 50 day simple moving average is $34.82 and its two-hundred day simple moving average is $35.75. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.15.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.Schlumberger's revenue was down 6.5% on a year-over-year basis. During the same period last year, the business posted $0.85 earnings per share. On average, analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

Insider Activity at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

SLB has been the topic of several recent research reports. Melius Research initiated coverage on Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target on the stock. Piper Sandler cut their price target on Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. Barclays dropped their target price on Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Wells Fargo & Company lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, JPMorgan Chase & Co. dropped their target price on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $52.86.

About Schlumberger

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.